Microeconometric search-matching models and matched employer-employee data
Fabien Postel-Vinay
(1, 2, 3, 4, 5, 6, 7, 8, 9, 10)
,
Jean-Marc Robin
(11, 12)
1
CREST -
Centre de Recherche en Économie et Statistique
2 LEA - Laboratoire d'Economie Appliquée
3 Department of Economics
4 PJSE - Paris-Jourdan Sciences Economiques
5 CEPR - Center for Economic Policy Research
6 University of Bristol [Bristol]
7 ECON - Département d'économie (Sciences Po)
8 IZA - Institute for the Study of Labor
9 DELTA - Département et Laboratoire d'Economie Théorique et Appliquée
10 INRA
11 Economics department
12 UP1 - Université Paris 1 Panthéon-Sorbonne
2 LEA - Laboratoire d'Economie Appliquée
3 Department of Economics
4 PJSE - Paris-Jourdan Sciences Economiques
5 CEPR - Center for Economic Policy Research
6 University of Bristol [Bristol]
7 ECON - Département d'économie (Sciences Po)
8 IZA - Institute for the Study of Labor
9 DELTA - Département et Laboratoire d'Economie Théorique et Appliquée
10 INRA
11 Economics department
12 UP1 - Université Paris 1 Panthéon-Sorbonne
Fabien Postel-Vinay
- Fonction : Auteur
- PersonId : 1321862
Jean-Marc Robin
- Fonction : Auteur
- PersonId : 962566
- IdHAL : jean-marc-robin
- ORCID : 0000-0002-3574-9359
- IdRef : 034123199
Résumé
The recent advent of matched employer-employee data as part of the labor market scholar’s toolbox has allowed a great deal of progress in our understanding of individual labor earnings. A growing number of empirical analyzes of available matched employer-employee data sets now combine with the already voluminous literature on empirical wage equations based on individual or household survey data to draw an ever richer picture of wage dispersion, individual wage dynamics, and the productivity-wage relationship. In this chapter we tour the empirical wage equations literature along these three lines and make a case that viewing it through the lens of structural job search models can help clarify and unify some of its recurring findings. Among other things, we emphasize and quantify the role of matching frictions in explaining the share of “residual” wage dispersion that is left unexplained by the reduced-form approach. Secondly, we quantitatively assess the importance of labor market competition between employers relative to non-competitive wage formation mechanisms (namely, wage bargaining) as a theoretical underpinning of the wage-productivity relationship. Thirdly, we show how search frictions combined with a theoretically founded wage formation rule based on renegotiation by mutual consent can account for the widely documented dynamic persistence of individual wages. We conclude with a list of questions that are open to further research.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Chapitre d'ouvrage |
Titre |
en
Microeconometric search-matching models and matched employer-employee data
|
Résumé |
en
The recent advent of matched employer-employee data as part of the labor market scholar’s toolbox has allowed a great deal of progress in our understanding of individual labor earnings. A growing number of empirical analyzes of available matched employer-employee data sets now combine with the already voluminous literature on empirical wage equations based on individual or household survey data to draw an ever richer picture of wage dispersion, individual wage dynamics, and the productivity-wage relationship. In this chapter we tour the empirical wage equations literature along these three lines and make a case that viewing it through the lens of structural job search models can help clarify and unify some of its recurring findings. Among other things, we emphasize and quantify the role of matching frictions in explaining the share of “residual” wage dispersion that is left unexplained by the reduced-form approach. Secondly, we quantitatively assess the importance of labor market competition between employers relative to non-competitive wage formation mechanisms (namely, wage bargaining) as a theoretical underpinning of the wage-productivity relationship. Thirdly, we show how search frictions combined with a theoretically founded wage formation rule based on renegotiation by mutual consent can account for the widely documented dynamic persistence of individual wages. We conclude with a list of questions that are open to further research.
|
Auteur(s) |
Fabien Postel-Vinay
1, 2, 3, 4, 5, 6, 7, 8, 9, 10
, Jean-Marc Robin
11, 12
1
CREST -
Centre de Recherche en Économie et Statistique
( 2579 )
- 5, Avenue Henry Le Chatelier
91120 Palaiseau
- France
2
LEA -
Laboratoire d'Economie Appliquée
( 37750 )
- France
3
Department of Economics
( 120984 )
- University College London - Gower Street - London - WC1E 6BT
- Royaume-Uni
4
PJSE -
Paris-Jourdan Sciences Economiques
( 1312 )
- 48 boulevard Jourdan 75014 Paris
- France
5
CEPR -
Center for Economic Policy Research
( 143559 )
- Royaume-Uni
6
University of Bristol [Bristol]
( 220393 )
- Senate House, Tyndall Avenue, Bristol BS8 1TH
- Royaume-Uni
7
ECON -
Département d'économie (Sciences Po)
( 226874 )
- 28 rue des Saints-Pères - 75007 Paris
- France
8
IZA -
Institute for the Study of Labor
( 103374 )
- Bonn
- Allemagne
9
DELTA -
Département et Laboratoire d'Economie Théorique et Appliquée
( 25318 )
- 48 boulevard Jourdan - 75014 Paris
- France
10
INRA
( 54079 )
- France
11
Economics department
( 163489 )
- "Department of Economics Massachusetts Institute of Technology 50 Memorial Drive E52-391 Cambridge, MA 02142"
- États-Unis
12
UP1 -
Université Paris 1 Panthéon-Sorbonne
( 7550 )
- 12 place du Panthéon, 75231 Paris Cedex 05
- France
|
ISBN |
9780521871549
|
Titre de la collection |
Econometric Society Monographs
|
Volume |
3
|
Public visé |
Scientifique
|
Langue du document |
Anglais
|
Titre de l'ouvrage |
Advances in Economics and Econometrics Theory and Applications, Ninth World Congress
|
Vulgarisation |
Non
|
Audience |
Non spécifiée
|
Date de publication |
2006
|
Page/Identifiant |
279 - 310
|
Éditeur scientifique |
|
Domaine(s) |
|
Mots-clés (JEL) |
|
Éditeur commercial |
|
Mots-clés |
en
Labor market frictions, Wage distributions, Wage dynamics, Job mobility, Matched employer-employee data
|
Spire (Sciences Po) | 2441/dc0ckec3fcb29ms9850g0gg96 |
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